The belief that purchasing gold on this special day brings financial success has led to an annual phenomenon in Vietnam.

Global gold prices have reached new record highs, sending shockwaves through the domestic market. Investors are eager to know how high gold can climb in this volatile environment.

Le Thuy Hang, former General Director of Saigon Jewelry Company (SJC), faces charges of abusing her position, highlighting irregularities in gold price stabilization efforts.

Vietnam’s gold market in 2024 delivered gains and losses, highlighting the risks and rewards of investing in a volatile market.

The Saigon Jewelry Company Limited (SJC) has appointed Mr. Dao Cong Thang as its acting CEO, replacing Ms. Le Thuy Hang, following legal proceedings involving six individuals linked to the company.

Experts are forecasting that gold prices in Vietnam could rise to 93 million VND ($3,600) per tael in 2025, driven by global market trends and economic uncertainties. But what’s the best time to buy or sell?

The gold prices on November 27 in the domestic market increased slightly by VND200,000-300,000 per tael.

Speaking at a National Assembly session, Governor of the State Bank of Vietnam Nguyen Thi Hong addressed concerns over Vietnam’s gold market, warning investors of the high-risk nature of gold trading.

A high-profile investigation involving Saigon Jewelry Company (SJC) is unfolding, with six suspects facing allegations of corruption and abuse of power in their handling of state-directed gold price stabilization.

Most gold shops have set restrictions on the volume of gold that one individual can buy each day. Just minutes after opening every day, shops simultaneously announce that they have no more gold to sell.

The State Bank of Vietnam has reported to the National Assembly that domestic gold prices are currently 5-7% higher than global rates, following comprehensive measures to stabilize the market.

The State Bank of Vietnam (SBV) has announced that inspections on compliance with legal policies in gold trading activities of credit institutions and gold trading businesses have been completed and an inspection report is being compiled.

Gold prices continued to surge this morning, October 23, with gold rings reaching over 88 million VND per tael.

Despite the higher prices, many people are posting on social media channels to look for sources to buy gold rings and gold bars

Gold ring prices have been climbing to new record highs, while goldsmith shops are selling gold in limited quantities.

The State Bank of Vietnam (SBV) has reduced the domestic-international gold price gap to just 4-5 million VND per tael through strategic sales of SJC gold bars and will continue implementing measures to stabilize the market.

The State Bank of Vietnam (SBV) is working closely with ministries and local authorities to implement comprehensive strategies to address significant price disparities and stabilise the gold market.

The domestic gold market shone last week, with prices of gold rings continuously breaking records and even surpassing the buying price of SJC gold bars.

Prices of domestic gold rings continued their upward trajectory on September 27, reaching an all-time high of VND83.35 million per tael and being equal to the selling price of SJC gold bars for the first time.